Update: Economy News September

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06 Sep, 2017

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Record production of horticulture crops in the country during 2016-17 is estimated to be around 300 million tones

September 01, 2017

  • The area under horticulture crops has increased from 24.5 million ha to 25.1 million ha in 2016-17 
  • Record Fruit production during the current year, estimated to be 93.7 million tones 
  • Record production of vegetables is estimated to be around 176 million tonnes
  • Flowers is estimated to be around 2.3 million tonnes
  • Record production of Plantation crops estimated to be around 18.3 million tonnes
  • Record production of Spices is estimated to be around 8.2 million tonnes
  • Third Advance Estimates of Area and Production of various Horticulture Crops for the year 2016-17

 The Department of Agriculture, Cooperation and Farmers Welfare has released the Third Advance Estimates of Area and Production of Horticulture Crops for 2016-17. These estimates are based on the information received from different State/UTs in the country.

The following table summarizes the Third Advance Estimates of area and Production of horticulture crops for the year 2016-17 along with Second Advance Estimates for 2016-17 and Final Estimates for 2015-16:
(Area in ‘000 Ha, Production in ‘000MT)

al Horticulture 2016-17 (Third Advance Estimate) 2016-17 (Second Advance Estimate) 2015-16 (Final) % change of 2016-17 (Third Adv.  Est.) with respect to:
2016-17 2015-16
(Second Adv. Est.) (Final Est.)
Area 25109 24925 24472 0.7 2.6
Production 299853(record) 295164 286188 1.6 4.8

Highlights of the “Third Advance Estimates” for 2016-17:

  • The record production of horticulture crops in the country during 2016-17 is estimated to be around 300 million tonnes which is 4.8% higher as compared to the previous year’s i.e. 2015-16 estimates.
  • The area under horticulture crops has increased from 24.5 million ha to 25.1 million ha in 2016-17, recording an increase of 2.6% over previous year.
  • Fruit production during the current year is estimated to be record 93.7 million tonnes which is about 3.9% higher than the previous year.
  • Production of vegetables is estimated to be record around 176 million tonnes which is 4.2% higher than the previous year.
    • With 21.7 million tonnes estimated onion production in the country, there is an increase of 3.8% over the previous year. The major onion producing States are Maharashtra, Karnataka, Madhya Pradesh, Bihar and Gujarat.
    • Record potato production in the country has increased from 43.4 million tonnes to 48.2 million tonnes in the current year which is 11.1% higher than the previous year. Major Potato growing States are Uttar Pradesh, West Bengal, Bihar, Gujarat, Madhya Pradesh and Punjab.
    • During the current year tomato production is estimated to be around 19.5 million tonnes which is 4.3% higher than the previous year. The major tomato growing States are Madhya Pradesh, Andhra Pradesh, Karnataka, Odisha and Gujarat etc.
    • Production of flowers is estimated to be around 2.3 million tonnes which is 4.3% higher than the previous year.
    • Production of Aromatics & Medicinal Plants is estimated to be around 1.04 million tonnes which is 2% higher than the previous year.
    • During the current year the record production of Plantation crops (areca nut, cashewnut, cocoa and coconut) is estimated to be around 18.3 million tonnes which is 10.2% higher than the previous year.
    • Record production of spices is estimated to be around 8.2 million tonnes which is 17.4% higher than the previous

July core sector growth bounces back

September 01, 2017

Core sector output growth rose to 2.4 per cent in July, as compared to the paltry 0.8 per cent rise seen in June.

Growth was primarily pushed by a jump in steel and electricity generation, apart from a sustained rise in natural gas output.

Data issued by the commerce and industry ministry on Thursday showed the eight core segments – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – cumulatively grew 2.5 per cent in the first four months (April-July) of this financial year. This was less than half the 6 per cent growth in the corresponding period of 2016-17.

Contributing 40 per cent to total industrial production, growth in core sector output had been pulled down by contraction or marginal growth in six of the eight major sectors to 0.8 per cent after rising by 4.1 per cent in May.

In July, steel production continued to firm up, rising by 9.1 per cent, up from the 5.8 per cent rise in June.

Also, electricity generation managed to rise by 5.4 per cent up from the 2.2 per cent rise in June, reflecting a favorable base effect, as well as some improvement in industrial demand post-GST, Principal Economist at ICRA, Aditi Nayar said.

Negative Growth

This is where good news ended as all other sectors showed minimal or negative growth. After three straight months of contraction, coal production managed to rise by the slowest pace of 0.7 per cent after contracting by 6.7 per cent in June.

Crude oil production growth, rising by the slowest margin among all sectors for months, turned negative by contracting 0.5 per cent in July from the 0.6 per cent rise in June.

Cement production continued falling in July, albeit by a smaller margin of 2 per cent, from the 6.3 per cent fall in June. The sector has seen prolonged contraction for eight straight months now.

Contraction in refinery products rose to 2.7 per cent from the 0.2 per cent seen in July. It had risen by 5.4 per cent in May, reversing a trend of very low or negative growth for four months.

Finally, fertiliser production again contracted in June, going down by 0.3 per cent after a 3.6 per cent decline in June.

 


NDDB launches milk fortification project

 September 06, 2017

The National Dairy Development Board (NDDB) today launched a pilot milk fortification project in collaboration with the World Bank and Tata Trusts.

“Vitamin A and D deficiencies are widely prevalent in India. Fortification of appropriate foods with vitamin A and D is a viable strategy to tackle micro-nutrient malnutrition,” NDDB chairman Dilip Rath said while launching a pilot milk fortification project at Anand in Gujarat today.

The World Bank, Tata Trusts and NDDB are collaborating to implement this pilot milk fortification project. The Tata Trusts will provide fortificants (vitamins) free of cost for first six months and at 50 per cent cost for next six months to the milk unions and milk producer companies participating in this pilot initiative, a statement issued here said.

It is assumed that since milk is consumed by majority, fortification of milk with vitamin A and D is an excellent way of addressing dietary deficiencies

 


India climbs 10 spots on world giving index for 2017

 

The eighth edition of the Charities Aid Foundation (CAF) World Giving Index 2017 indicates that global giving has declined across continents with only Africa recording a positive shift in giving habits.

The report bases its findings on three parameters:

  • number of people donating money,
  • volunteering time and
  • helping a stranger.

Asia, unlike Africa, has seen a decline in all three giving behaviours with helping a stranger decreasing from 51% to 47%, donating money from 37% to 33% and volunteering down to 21%. Countries such as Ireland, Germany, Norway, the UK have scores which have decreased between 1 to 5 percentage points and the US has slipped to the fifth position, its lowest ranking since 2011.

“Global decline can be attributed to political environments in individual countries. For example, the report indicates even though Myanmar has retained the top slot for the fourth time, its percentage score is down by 5 points. This can be attributed to the political environment in the country which has changed in the last few years,” says Meenakshi Batra, chief executive officer, CAF India.

Meanwhile, India’s ranking has improved to 81 from 91. But there is still room for improvement, if India wants to beat its 2013 ranking of 69.

The CAF World Giving Index 2017 is primarily based on data from Gallup’s World View World Poll, which covered 139 countries that together represent around 95% of the world’s population (around 5.2 billion people).

 

The Swedish newspaper was recently asked it to delete the reference made by President Pranab Mukherjee to the Bofors scam in an interview to it, as a claim protested by the Indian Government on 27 May 2015. India has expressed disappointment over the disrespect shown to the President, the newspaper has defended its right to publish what was said during the interview.

Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.

 


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